So far JNJ is outperforming the SPY as staples are a defensive play during uncertain markets.
But if JNJ fails to break above my 170 yellow zone (also BO of the black falling wedge) in the next few days then a retest of the 163 green support zone is next. 163 is also a 1.272 Fib zone & also a retest of the blue upchannel base. This is an ideal spot to end the M-pattern to start a new uptrend validating the blue upchannel.
Although less probable for the near term, a retest of the 157 red zone may occur if the blue channel breaks as this is the upper side of a big red channel started in 2004.
Not trading advice
But if JNJ fails to break above my 170 yellow zone (also BO of the black falling wedge) in the next few days then a retest of the 163 green support zone is next. 163 is also a 1.272 Fib zone & also a retest of the blue upchannel base. This is an ideal spot to end the M-pattern to start a new uptrend validating the blue upchannel.
Although less probable for the near term, a retest of the 157 red zone may occur if the blue channel breaks as this is the upper side of a big red channel started in 2004.
Not trading advice
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这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。